3. pharmaceutical
(adj.) [fahr-muh-soo-ti-kuhl] – of or relating to medicine or drugstores

Example: Pharmaceutical sales are expected to
rise due to the increase of bacteria-related diseases.

4. upgrade
(v.) [uhp-greyd, uhp-greyd] – to further improve the quality of something

Example: I went to the computer service center
yesterday to upgrade my PC.

5. reform
(n.) [ree-fawrm] – a change or improvement of something for the better

Example: Government tax reforms improved
business in the country.

Article

Read the text below.

Foreign investors see big opportunities in
China’s healthcare industry as more Chinese go the extra mile to get the best medical service.

Despite China’s economic reform 30 years ago, the
government has failed to provide efficient medical services to most of its
citizens. Currently, China spends only 5% of its Gross Domestic Product (GDP)
compared to the global average of 9%.
As a result, hospitals in China are often overcrowded, understaffed,
corrupt and bureaucratic.

However, increasing healthcare demands in China
have provided private investors with opportunities for profit. Wealthy
citizens travel hundreds of miles to line up at state hospitals. Pharmaceutical sales are expected to
rise 20% annually in the future. With these demands, investors planning to
upgrade hospitals and medical services predict a 20% return of their
investment.

In addition to growing demands, investors also
see opportunity in the government initiative to improve healthcare. Recently,
the government showed willingness to allow foreign investment to upgrade rural hospitals and clinics.
It has also released $125 billion to provide basic medical care to all of its
citizens.

Experts say more work is needed to take advantage
of these opportunities. According to Peking University professor Gordon Liu,
adviser on China’s healthcare reform,
investment guidelines should first be clear. The government should clarify
how much of the upgraded hospitals would be owned by the communist state.
Insurance systems must also be allowed to repay expenses from private
hospitals.

At present, the healthcare sector is still taxed
higher compared to other industries. It would take several years before these
foreign investments can be approved by the Ministry of Health.

Viewpoint Discussion

Enjoy a discussion with your tutor.

Discussion
A

·What
are the advantages and disadvantages of allowing foreign companies to operate
in a country?

·If
allowed, should there be a limit to the amount of investment?

Discussion
B

·What
does the present healthcare system in your country provide?

·Are
there any issues or problems related to healthcare system in your country?
Explain your answer.